Institute of Economic Growth on Friday said domestic interest rates are set to rise in the short term due to surging inflation and hike in international rates.
India's economic growth may dip in the latter half of this fiscal from 5.8 per cent recorded in second quarter, mainly due to decline in rural demand following drought, Institute of Economic Growth warned on Wednesday.
India's foreign exchange reserves, now at $100.05 billion, is expected to reach $104 billion by March, but its high growth may slow down due to rising trade deficit, according to the Institute of Economic Growth.
The rupee, which has appreciated nine per cent this year, much to the chagrin of exporters, is likely to become stable around Rs 40 a dollar mark, the Institute of Economic Growth has said.
Economic think-tank, Institute of Economic Growth said on Wednesday it expected widely tracked wholesale prices-based inflation to hover above 6 per cent for the present quarter.
Industrial production is expected to dip marginally in the next 3 months due to rupee gaining strength against the dollar and declining non-food credit, even as petrol and diesel might become cheaper, the Institute of Economic Growth said.
Government-estimated growth for 2008-09 is 7.1 per cent. However, as per RBI estimates, GDP growth would be around 6 per cent in 2009-10.
Ahead of the Reserve Bank of India's Monetary Policy announcement, a leading economic thinktank said on Monday that lending rates might dip marginally in the coming months due to recent decline in inflation.
The quality of public sector management also affects the World Bank's development effectiveness in countries.
Domestic economic growth may nosedive significantly in the latter half of the current fiscal from 5.8 per cent in the second quarter, primarily owing to fall in rural demand following drought, forecasts an economic journal.\n\n\n\n
The global crisis will impact India, the IEG report said. The flight of foreign capital has created liquidity problems. 'In the medium term, this is expected to pull down industrial output growth which is already in a slowdown phase.' The sharp decline in industrial production growth during April-August together with the decline in the second quarter corporate results indicate that overall industrial growth would be much smaller than last year's growth of nine per cent.
The NHRC said that it has received several complaints regarding the ongoing farmers' protest.
Oracle will provide software grants worth more than $114 million to 60 Jawahar Knowledge Centres (JKC) in Andhra Pradesh.
High oil prices are expected to push up inflation to 3.9 per cent in the next three months, hardening interest rates, economic think-tank IEG has said.
Institute of Economic Growth has warned that rising foreign exchange demand and global interest rates may weaken the rupee and slow down forex accumulation, which is expected to touch $106 billion by March.
The Whole Price Index inflation figure for June is slated to be released tomorrow. "The WPI forecast is 11.12 per cent for June. . .the RBI is slowly withdrawing from its low policy rates regime and the trend is going to continue, given the inflationary pressure in the economy," IEG said in its monthly bulletin.
The Institute of Economic Growth also expected banks prime lending rates to decline to below 11 per cent in next few months which would further spur industry growth.
A pregnant Serena Williams makes the tennis superstar even more attractive to corporate sponsors, allowing her to extend her reach into maternity wear and motherhood products, sponsorship industry executives said.
The Institute of Economic Growth, an economic think thank, has said that inflation rate may increase in the coming month but would remain within the RBI's target range of 4 to 4.5 per cent for this fiscal. In its latest monthly monitor, IEG said that despite this expected increase in inflation, there could still be a downward pressure on the interest rates in the next few months.
The Institute of Economic Growth has forecast a depletion in the foreign exchange reserves to $79 billion in August mainly due to over $4 billion dollar payout of Resurgent India Bonds.
80% of the surveyed districts did not show any change in migration
In the day following Russian tennis star Maria Sharapova's admission that she failed a drug test, sponsors Nike, Porsche and Swiss watchmaker Tag Heuer dropped her like a hot potato.
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